subhash chandra garg
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  • Subhash Garg: FM Sitharaman had pre-conceived notions about me, wanted me transferred from FinMin Oct 31, 2020 02:37 PM IST

    Subhash Garg: FM Sitharaman had pre-conceived notions about me, wanted me transferred from FinMin

    Garg told Moneycontrol that he wrote the blog post to express what he had done in the past one year and his future plans, but it would have been incomplete without talking about his last few months in government.

  • Indian economy to contract 10% this fiscal: Former Finance Secretary Subhash Chandra Garg Jun 02, 2020 10:54 PM IST

    Indian economy to contract 10% this fiscal: Former Finance Secretary Subhash Chandra Garg

    Garg also said that the government's Rs 21 lakh crore stimulus package is actually of only Rs 1.4-1.5 lakh crore or about 0.7 percent of the country's gross domestic product (GDP).

  • Govt to face Rs 10 lakh crore shortfall in FY21 due to COVID-19: SC Garg Apr 16, 2020 10:45 PM IST

    Govt to face Rs 10 lakh crore shortfall in FY21 due to COVID-19: SC Garg

    In a blog, Garg said the government's tax and non-tax revenues are likely to decline by around Rs 5 lakh crore, while on the expenditure side additional financing of about Rs 6 lakh crore would be required.

  • India may miss tax collection target for 2019-20 by nearly Rs 2.5 lakh cr: Subhash Chandra Garg Jan 19, 2020 07:11 PM IST

    India may miss tax collection target for 2019-20 by nearly Rs 2.5 lakh cr: Subhash Chandra Garg

    Garg also said that the underlying tax revenue situation is grim, he said adding that it is the right time to initiate much needed reforms in the taxation structure.

  • Bimal Jalan panel on use of RBI reserves may submit report in August Aug 05, 2019 08:43 PM IST

    Bimal Jalan panel on use of RBI reserves may submit report in August

    The panel is likely to suggest a phased transfer of the RBI's excess funds to the government.

  • Sovereign external borrowing : A tightrope walk for govt Jul 26, 2019 06:35 PM IST

    Sovereign external borrowing : A tightrope walk for govt

    Finance Minister Nirmala Sitharaman in Budget 2019-20 announced that the government would start raising a part of its gross borrowing programme from external markets in foreign currencies.

  • As the new economic affairs secretary, Atanu Chakraborty has his task cut out Jul 26, 2019 12:04 PM IST

    As the new economic affairs secretary, Atanu Chakraborty has his task cut out

    Chakraborty takes over at a time when the government finds itself in a logjam with over transfer of RBI’s surplus reserves; announcements about an overseas borrowing plan has also generated a lot of heat

  • Subhash Chandra Garg gives 3-month notice for VRS, to take charge at Power Ministry on July 26 Jul 25, 2019 05:37 PM IST

    Subhash Chandra Garg gives 3-month notice for VRS, to take charge at Power Ministry on July 26

    On July 24, the former finance secretary was moved to the power ministry to replace Power Secretary Ajay Kumar Bhalla who is now appointed as the new Home Secretary, with the government appointing him Officer on Special Duty in the high-profile ministry on July 24.

  • Subhash Chandra Garg seeks early retirement after abrupt transfer: Report Jul 25, 2019 11:53 AM IST

    Subhash Chandra Garg seeks early retirement after abrupt transfer: Report

    Garg is a 1983-batch IAS officer from Rajasthan cadre

  • Finance Ministry to look into applicability of 20% tax on ongoing share buybacks by listed cos  Jul 12, 2019 05:31 PM IST

    Finance Ministry to look into applicability of 20% tax on ongoing share buybacks by listed cos 

    Finance Secretary Subhash Chandra Garg said the proposed tax on listed companies is aimed at discouraging share buybacks and encouraging investments

  • Extra-budgetary borrowings to be lowered progressively: Subhash Chandra Garg Jul 08, 2019 11:45 AM IST

    Extra-budgetary borrowings to be lowered progressively: Subhash Chandra Garg

    Garg said the capital requirement for state-run insurance companies is still being worked out

  • Economic capital framework report still being finalised: Finance Secretary Subhash Chandra Garg May 30, 2019 07:21 PM IST

    Economic capital framework report still being finalised: Finance Secretary Subhash Chandra Garg

    The committee on ECF was set up by the central bank in December last year and was expected to submit its report within 90 days from the date of its first meeting.

  • Govt close to meeting fiscal deficit target of 3.4%: Subhash Chandra Garg Apr 04, 2019 09:52 PM IST

    Govt close to meeting fiscal deficit target of 3.4%: Subhash Chandra Garg

    The government in the interim Budget in February revised upward the fiscal deficit target to 3.4 per cent from 3.3 per cent of GDP estimated earlier for the financial year ended March 31.

  • Subhash Chandra Garg named Finance Secretary Mar 08, 2019 08:15 PM IST

    Subhash Chandra Garg named Finance Secretary

    The Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi has approved designating Garg as the Finance Secretary, it said.

  • Govt will meet fiscal deficit target of 3.4% in FY'19: Subhash Chandra Garg Mar 08, 2019 07:14 PM IST

    Govt will meet fiscal deficit target of 3.4% in FY'19: Subhash Chandra Garg

    As per the interim Budget 2019-20, the government has pegged fiscal deficit target of 3.4 per cent for the current fiscal year ending March 31.

  • Fiscal deficit will fall to 3% in two years; FY20 GDP growth pegged at 7.5%: Subhash Chandra Garg Feb 04, 2019 02:46 PM IST

    Fiscal deficit will fall to 3% in two years; FY20 GDP growth pegged at 7.5%: Subhash Chandra Garg

    Department of Economic Affairs Secretary Subhash Chandra Garg tells Moneycontrol in an interview that the government will achieve the targetted Rs 80,000 crore of disinvestment revenues in 2018-19

  • Cryptocurrencies in India legal, regulation in final stages, reveals RTI query Jan 29, 2019 09:45 AM IST

    Cryptocurrencies in India legal, regulation in final stages, reveals RTI query

    While there is no formal declaration by the Indian government on the legalisation of cryptocurrencies, the response has made it clear the government is planning to regulate them

  • 'Timely data on NBFCs can avoid repeat of IL&FS-type crisis', says Subhash Chandra Garg Jan 05, 2019 05:17 PM IST

    'Timely data on NBFCs can avoid repeat of IL&FS-type crisis', says Subhash Chandra Garg

    Following the IL&FS defaults, many major NBFCs like DHFL and Indiabulls among others had bad times leading to a massive fall in their stock prices.

  • No decision regarding Rs 2,000 note production recently: Subhash Garg Jan 04, 2019 12:09 PM IST

    No decision regarding Rs 2,000 note production recently: Subhash Garg

    Economic Affairs Secretary says the printing of Rs 2,000 notes is going on as per projected requirement

  • Govt to seek interim dividend from RBI, says Subhash Chandra Garg Dec 19, 2018 06:58 PM IST

    Govt to seek interim dividend from RBI, says Subhash Chandra Garg

    Economic Affairs Secretary Subhash Chandra Garg on Wednesday said the government will seek interim dividend from the Reserve Bank of India.

  • 7.1% GDP growth in Q2 'disappointing': Finance Ministry Nov 30, 2018 06:45 PM IST

    7.1% GDP growth in Q2 'disappointing': Finance Ministry

    The government data released Friday shows India's economy grew at 7.1 percent in July-September, lowest in three quarters.

  • Govt says not eyeing RBI's surplus, but need to fix capital policy Nov 09, 2018 02:05 PM IST

    Govt says not eyeing RBI's surplus, but need to fix capital policy

    DEA Secretary Subhash Chandra Garg has ruled out any immediate request for transfer of a part of RBI’s funds. But he said the government is proposing to review and define uses of funds on the central bank’s balance sheet.

  • Subhash Chandra Garg cites improved financial parameters to take jibe at Viral Acharya Nov 02, 2018 04:15 PM IST

    Subhash Chandra Garg cites improved financial parameters to take jibe at Viral Acharya

    Acharya, in his much talked about speech last week, had raised the issue of autonomy of central bank and undermining the central bank's independence could be "potentially catastrophic".

  • Govt looking for ways to stabilise FPI inflow: Subhash Chandra Garg Oct 30, 2018 01:47 PM IST

    Govt looking for ways to stabilise FPI inflow: Subhash Chandra Garg

    "What has been affected is financial sector investment. We have seen some withdrawal specially in the debt market. This year we have seen close to about USD 10-11 billion of outflows. This volatility is what concerns us,” Garg said speaking at an event here.

  • Holding unregulated crypto assets like bitcoin in India could attract punishment Oct 15, 2018 05:45 PM IST

    Holding unregulated crypto assets like bitcoin in India could attract punishment

    Govt awaiting RBI and Subhash Garg-panel report on digital currencies to draw up a rule book on digital currencies

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